ADA Cashback from Top Retailers, for Cardano Wallets

[GENERAL] Name and surname of main applicant

Meir (Iri) Zohar

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Requested funds in ada

100000

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

3

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

White-label ADA cashback for wallets -

1. Attracting new users by offering ADA on fiat purchases.
2. Wallet staying top-of-mind, popping-up when visiting partner stores.
3. New income stream (rev-share).

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

We need the collaboration of at least one wallet from the Cardano ecosystem

Our solution is a white-label crypto cashback that “sits” in a wallet and needs the wallet to install it.

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

Our solution that connects web2 players to web3 platforms can only be implemented based on a centralised architecture. Given that we have built it based on a standard AWS-based architecture and not based on a decentralised / open source concept.

[METADATA] SDG rating

We’re planning to follow the following KPIs - 

• Number of live wallets.
• Number of visitors.
• Number of cashback payouts in ADA.
• Income to wallets and amount of cashback in ADA to users.

[SOLUTION] Please describe your proposed solution

We’ve integrated with all the major affiliate networks and based on those integrations are able to send wallet users to 300+ retailers. Once a user purchases (with any payment method) we know how much ADA cashback he deserves and when he is entitled to receive that ADA cashback (assuming he doesn't return the purchased goods).

We’ll run an ominous wallet on Gate.io and accumulate for each user, the ADA cashback that he receives from different merchants. The users chooses when to claim his accumulated cashback tokens and move them on-chain.

We’ll manage the price volatility edging for the ADA tokens as needed and assume all the associated risks. 

We’re planning to collaborate with Cardano wallet/s to add this cashback offering to their users as an integral part of their wallet functionality.

Here is more information about the model:

Website - www.bringweb3.io

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

The project is expected to - 

• Contribute to the trust and positioning of the Cardano brand by associating it with top tier, widely recognised, web2 brands such as Expedia, Hertz, LG, Dell, Lenovo, Blue Nile, Gap, Banana Republic, Forever 21, StockX, Fender, Staples, Decathlon and Samsonite.
• Increase the market demand for ADA and increase transactions on Cardano, as users can seamlessly convert cashback from all fiat purchases into ADA.
• Contribute to the innovative and positive image of the Cardano ecosystem as early adopters of this proprietary service that offer real and tangible value to users.

The project is also expected to -

• increase the attractiveness of the Cardano wallets enabling them to acquire more users, thus increasing the Cardano community.
• “Wake-up” dormant of users as their wallet pop-ups offering them to earn ADA cashback when they visit online stores that we work with, thus increasing the activity level of the Cardano community.

Those effect will be measured and reported on a monthly basis -

• Number of Cardano wallets that are offering ADA cashback.
• Number of users that received ADA cashback via this service.
• Amount of ADA cashback distributed to users.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our confidence in our ability to deliver and that our approach is valid relies on -

1. Our team that consists of seasoned executives and operators as detailed in the team paragraph ahead.
2. We’ve successfully integrated with Commission Junction and Impact, the two leading affiliate networks. They are able to record the full data about completed purchase in hundreds of stores.
3. We’ve successfully delivered the first version of this system and launched it on the Casper blockchain. This project uses this initial code, adjusts it to the different Cardano wallets and adds the browser-extension element to it.
4. We’ve recently completed a SAFE investment round and have the funds needed to successfully execute this.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone #1 - Closing a Partner Wallet

Finding the right Cardano wallet to partner with and signing a deal.

• Researching and discussing with - multiple Cardano wallets.
• Executing the business development process- 

1. creating mockup and other marketing docs.
2. analyse various technology aspects of an integration.

• Executing the legal process.
• Closing and signing the partner wallet.

Time estimate: 1 month

Acceptance criteria: signed contact

Milestone #2 - Developing the ADA Cashback 

Adjusting Bring’s wallet-side application comprising of -

• Chrome extension SDK for the partner wallet.
• Store-finder UIs (search, carousel, categories) for the partner wallet.
• Tokens cache for ADA.
• Cache UIs for the partner wallet.
• Backend support for all the above.
• QA all the above.

Time estimate: 1 month

Acceptance criteria: Code approved by the Partner Wallet

Final Milestone - integrating the ADA Cashback with the Partner Wallet

• Collaborate with the partner wallet to add the ADA cashback.
• QA and fix until reaching production ready code.
• Partial release, analyse live data and fix as needed.
• Full release.

Time estimate: 1 month

Acceptance criteria: full release to the chrome store

[RESOURCES] Who is in the project team and what are their roles?

We are bringing cash-back to web3 at scale. Our vision is to offer everyone, including the least-savvy, web3 users, seamless access to crypto cashback via his/her trusted crypto platform. The company was founded by Meir (Iri) Zohar, one of the key architects of the modern ad-tech; founder (2007) of eXelate, pioneering the use of data as an integral part of the ad-tech ecosystem. Iri, together with the Bring team, have launched a proprietary platform, integrated with top retailers and brands and with leading crypto wallets, exchanges and other web3 conduits.

Meir (Iri) Zohar - Founder & CEO [LinkedIn] 

Retailer / Ad Tech serial entrepreneur that has founded Oridian, eXelate and Freshub. Led all three to exits, totalling hundreds of millions of dollars.

Status: full-time employee since Oct, 2022

Noam Kronman - Head of R&D [LinkedIn]

Strong, experienced and fast full-stack developer

Deep understanding of AWS DevOps and system architecture.

Status: full-time employee since Oct, 2022

Ben Riva - Web3 Advisor

Seasoned Web3 developer LinkedIn

Status: advising the company since June 2023 

Leora Goldstien - Head of QA

Experienced QA manager LinkedIn

Status: part time employee since Mar, 2024

Ethan Hanoch - Analytics & QA

Analytics & Junior QA LinkedIn

Status: full time employee since Mar, 2024

Gidon Alter - VP Sales [LinkedIn]

Seasoned sales & operations executive in retail and advertising.

Smart, understands technology and a great deal-closer.

Status: working 50% position since Jan, 2023

Moran Shaked - Product Design Lead [LinkedIn]

Very strong designer, UI & UX

Wears an additional hat - Biz Dev for blockchain projects.

Status: working 40% position since Mar, 2024, prior to that worked for more than a year on an hourly basis

Michael Amar - Active Board Member [LinkedIn]

Serial web3 entrepreneur and the creator and manager of Paris Blockchain Week.

Status: actively advising the company since Jan 2023 

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone #1 - 

Resources and costs -

• Business development (in house): 0.5 months x $8000
• Software engineer (in house): 5 hours x $80
• UX/UI Designer (in house): 5 hours x $53 
• Legal (external): 10 hours x $300
• Admin (in house): 5 hours x $25

Total cost: $7,792

Milestone #2 - 

Resources and costs -

• Business development: 15 hours x $53
• Software engineer: 1.5 months x $12,000
• QA engineer: 0.5 months x $7,000
• UX/UI Designer: 20 hours x $53
• Admin: 5 hours x $25

Total cost: $23,492

Final Milestone - 

Resources and costs -

• Business development: 15 hours x $53
• Software engineer: 1 months x $12,000
• QA engineer: 0.5 months x $7,000
• Admin: 5 hours x $25

Total cost: $16,425

Total budget: $47,708

ADA 95,000 (based on 0.5) 

Additional 5,000 ADA to protect from ADA price going down (as most of our expenses are in USD). In case ADA price goes up we will discuss integration with additional wallets and aim to add more features. 

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The project will result in a final product that will start generating value to users and wallets as well revenue for the platform that will make it self-sustained. 

In a short time we will be able to show a concrete additional use case for web3 cashback that is connected to major brands.  

Most projects need higher financial resources and we believe our model can be proven with a relatively limited budget. 

All list costs are based on standard market salaries in Israel.

The legal fees are based on the standard legal fees in Israel.